Bad times continue to haunt local auto assemblers as Indus Motor Company’s Toyota Corolla sedan which was once the best selling car in the country is suffering from a -60% decline in sales.
Since the beginning of this fiscal year, the Corolla was superseded by Pak Suzuki Alto 660cc which has now become the bestselling car in the country. Furthermore the expected arrival of Yaris sedan which will be launched towards early next year has also contributed towards diminishing sales of Toyota Corolla. As of the first 4 months of this fiscal year, sales of Corolla came down by 60% to 7,485 units compared to 18,814 units sold in same period in previous year.
Having already observed 50 non production days (NPDs) since July 2019, the company will observe another 5 NPDs in November which will bring the total number of non production days to 55 since the beginning of this fiscal year. Owing to slow sales, the plant is now being operated on single-shift basis and will continue to operate like this till the end of this year. According to sources, the company still has more than 2,000 unsold units of Toyota Corolla at its disposal.
In addition to Corolla, the sales of Fortuner SUV so far in this fiscal year also declined by -57% to 367 units compared to 864 units sold in the same period of previous year. Hilux also to a dip by -37% with 1,351 units sold compared to 2,150 units sold in the first 4 months of previous fiscal year.